Annual Report 2013
BECOMING A LEADING
DIGITAL BANK
PT Bank CIMB Niaga Tbk Corporate Secretary
Graha CIMB Niaga
Becoming a Leading Digital Bank
Annual RCIMB Niaga’s Digital Banking has always considered and adopted customer experiences as a key differentiator as well as trigger for revenue improvement. Customer experiences revolve around 4 main pillars: effi ciency, security, image, and proximity. These are translated into a capable digital banking service with security and comfort, convenience, innovation, and seamless service delivery to users.
Benefi ts Customer
Experience
Secure Convenience Effi cient
Closeness Borderless Image Innovative Security Easy
THROUGH THE PILLARS OF
CUSTOMER EXPERIENCE
As evidence of the success of CIMB Niaga digital services, Branchless Banking services CIMB Clicks, Go Mobile, and BizChannel, along with innovative Mobile Account products received an enthusiastic response from the public, with signifi cant increases in volume of transactions.
This has further paved the way for CIMB Niaga to provide more innovative products in order to sustain customer confi dence.
64
2011
Branch Branchless
2012 2013
70 78
%
%
%
36 % 30 % 22 %
CIMB Niaga Branchless Banking has harnassed technological developments to boost transaction volume over the past three years.
In 2013, 78% out of the total 123.78 million banking transactions at CIMB Niaga used Branchless Banking services, compared with only 22% for in-person transactions at branches.
In addition to the use of ATMs and SSTs, which continue to give customers confi dence, other branchless banking products such as CIMB Clicks, Go Mobile, Mobile Account, CDM, and BizChannel have started to contribute a signifi cant increase in the volume of transactions in 2013. Benefi ting from simplicity, CIMB Clicks users grew in number by 26% in 2013 to reach 776 thousand users. Application numbers for Go Mobile increased a signifi cant 92% with 529 thousand active users by year end 2013, resulting in an increased transaction volume of 135%
to Rp4.5 trillion.
Clearly seen is that CIMB Niaga customers have shifted towards
branchless banking and openly give appreciation for CIMB Niaga’s
efforts in becoming a digital banking provider.
56.7
68.7
2012 2013
60.6
69.6 2,482
3,159
Total Transactions (in million) Transaction Volume (Rp trillion) ATM and SST
ATMs and Self Service Terminals (SST)
3.3
2013 1.2
2012 1.7
6.2 231
480
Total Transactions (in million) Transaction Volume (Rp trillion) No. of CDM
Cash Deposit Machines (CDM)
2012 2013
614
776
Total Transactions (in million) Transaction Volume (Rp trillion) No. of Users (thousand) 16.7
5.3
26.7
7.7
CIMB Clicks
0.9
2.1
2012 2013
1.9
4.5 276
529
Total Transactions (in million) Transaction Volume (Rp trillion) No. of Users (thousand)
Go Mobile
The CIMB Niaga Support Network continued to be reinforced throughout 2013. The number of ATMs and SSTs reached 3,159, while Cash Deposit Machine (CDM) totalled 480. Total Go Mobile users showed a signifi cant increase reaching 529,000 active users in 2013, with an increase in the amount and number of transactions respectively amounting to Rp4.5 trillion and 2.1 million. CIMB Clicks also showed very good performance, in which the number of CIMB Clicks users reached 776,000 in 2013, with the amount and number of transactions respectively reaching Rp26.7 trillion and 7.7 million.
Moving Towards the Digital Age
45% 124% 37%
Growth of total transactions of CIMB Clicks compared to 2012.
Growth of total
transactions of Go Mobile compared to 2012.
Growth of total
transaction of BizChannel compared to 2012.
2.1 million
Total transactions of
Go Mobile
throughout 2013, increasingly popular among customers for its high accessibility.2.1
Total transaction usingMobile Accounts
in 2013 with a signifi cant increase in the month of December 2013 that reached 1 million transactions.million
12.6
Total transactions ofBizChannel
throughout 2013, enabling Corporate Customers to manage their cash with effi ciency and effectiveness.million
7.7
Total transactions ofCIMB Clicks
throughout 2013, due to its security and comprehensive features.million
Digital Lounge
Looking to the future of retail banking, CIMB Niaga branches have launched the futuristic CIMB Niaga Digital Lounge, a banking concept that incorporates the latest technology to provide a faster, easier, and more convenient banking experience to our customers. The Digital Lounge is managed by a Digital Lounge Manager who can provide solutions for customers.
Digital Lounge facilities include ATM, CDM, SST, CIMB Clicks, and Video Banking.
Digital Lounges provide customer services like opening savings accounts and time deposits, as well as debit card and credit card applications, Branchless Banking applications, credit card handling, information about products and services, and referrals for mortgages, car loans and personal loans.
Mobile Account
Rekening Ponsel (Mobile Account) is a product with cutting- edge service capabilities that can provide fi nancial services to all segments of society, including even those who do not have a bank account. This is the fi rst such service in Indonesia, and we are proud to introduce Rekening Ponsel to Indonesia and open the door for many people to be more bank oriented.
Rekening Ponsel allows customers to transfer money to any mobile number at any mobile operator in Indonesia, using any type of mobile phone, and foremost this does not require ATM cards and bank accounts.
Feature
Rekening Ponsel account treats mobile numbers like a savings account, making it possible to conduct banking transactions without having to be present at CIMB Niaga or indeed any bank. To get this service, just list the phone number you want to use in order to make transactions with Mobile Account at the nearest branch of CIMB Niaga.
1. Cash deposit in a branch, CIMB Niaga and CDM machines EDC machines at partner merchants.
2. Cash withdraw at CIMB Niaga branch and ATM and EDC machines at partner merchants.
3. Buy prepaid cellular credit for almost all mobile operators in Indonesia.
4. Wire transfer to any phone number in Indonesia, CIMB Niaga account or to another bank through ATM Bersama / Prima networks.
5. Pay bills telephone / cellular, credit cards, airline tickets, instalment loans, education, insurance, environmental, and internet / cable TV.
6. Pay bills by using coupons at partner merchants.
7. Check account balances and view the last 10 transactions.
8. Handle transactions with partner merchants.
Go Mobile
CIMB Clicks
The Go Mobile banking service was launched by CIMB Niaga in 2012.
An internet banking service that allows customers to make banking transactions anywhere with guaranteed security, using captcha (random alphanumeric code) and security word (code created by the user) to tell customer they are in the CIMB Niaga website.
CIMB Click features include: account information, scheduled transactions, transaction history, domestic and international transfers, bulk transfers, scheduled transfers, bill payment credit card, phone card postpaid, LPN, Aetra and Palyja in certain areas, loans, insurance, education, airfares and trains, reload prepaid, integrated payments, scheduled payments, as well as mPIN to make transactions. These features will grow in line with the Company’s business development.
CIMB Niaga understands high mobility and the need for banking transactions that will insure customer safety, punctuality, fl exibility, and straightforwardness. Go Mobile banking service allows customers to make different kinds of banking transactions through all types of mobile phones 24 hours-a-day without having to go to a branch.
Go Mobile features include account information and transfer of credit cards, loans and bill payments including credit card payments, electricity, airfares, insurance, internet, cable TV and property services, purchase reload, transfer (to one’s account or CIMB Commerce, other banks ATM Bersama member or Prima) online, clearing and RTGS (Real Time Gross Settlement), as well as international remittance.
Preferred Phone Banking Phone Banking
Whenever a customer needs help or has questions about banking, they can simply call 14041 to get pertinent information.
Even fi nancial transactions can be done through your phone.
Phone Banking can be contacted 24 hours from anywhere, both in Indonesia and overseas.
Preferred Phone Banking 500 800 is a banking facility that is devoted to CIMB Niaga CIMB Preferred Banking or Private Banking customers. This is a banking service that allows customers to make transactions over the phone anytime and anywhere, with personal service by well-trained agents.
Preferred Phone Banking is an electronic facility with the largest transaction limit at CIMB Niaga. The main features of Phone Banking 500 800 in addition to the features in Phone Banking 14041 are personal banking service, a list of favorite accounts that allows customers ease in transactions, and with the transaction limit of up to Rp 3 billion to recipient accounts that have been registered.
Phone Banking Features include account information and the last 10 transactions, status and information checks, BG and Clearing rejection, loan account and credit card updates.
Customers can also use it to make bill payments such as credit cards, loans, Telkom, postpaid phones, education, internet, cable TV, insurance, credit purchase refi ll, transfer (to own account or CIMB Niaga, other banks of ATM Bersama or Prima network), information on interest rates, exchange rates and costs as well as administrative accounts (change PIN, change address, bank statement request via fax, blocking).
Phone Banking 14041 can be accessed by CIMB Niaga Customers and non-Customers to get general information about CIMB Niaga, either for products or other features. This service is provided by a Bank Offi cer or Credit Card Offi cer.
Retail Credit System
Business Credit System Briefcase Banking
Retail Credit System (RCS) is a loan origination system to support retail loans aimed at reducing manual processes, expanding coverage, and integrating the entire architecture of the Bank’s retail banking module.
RCS also comes with a document imaging and Credit Risk Decision Engine (CRDE). The application of this system in Indonesia will mark a single and standardized loan origination system for retail loans in a regional scope. The initial focus of this system development will be on mortgages and auto loans.
Business Credit System (BCS) is a loan origination system offered to SME and commercial customers in processing the entire credit application, starting from initiation to loan disbursement.
Is a sales tool that connects RCS with PC tablets online and is integrated to serve customers quickly during the process of an in-principal approval for a credit application.
The menu includes briefcase banking applications such as savings accounts, current accounts, mortgages, and auto loans.
Briefcase Banking features include conventional and Shariah product information, credit simulations to calculate principle and installments, and application delivery process up to credit approval.
BizChannel
BizChannel @ CIMB is an integrated banking solution using internet banking and is designed to assist corporate customers in managing their cash management effi ciently and effectively, both fi nancial and non-fi nancial transactions. This solution is safe and protected, as it is equipped with a layered security system for customer transaction data confi dentiality.
BizChannel @ CIMB enables customers to make fi nancial transactions and get information on all accounts in real time and online, customers can make transactions anytime and anywhere, with always-available features. Customers can also make remote authorization.
Various features of the BizChannel @ CIMB include:
Monitoring balances and transaction history online in real time
• Withdrawal transaction data in the form of text fi les, CSV or MT 940 (Transaction Inquiry)
• Monthly Statements
• Virtual Account transaction reports
• Information transaction clearing deposits Post Dated Checks
• Transfer between CIMB Niaga accounts
• Transactions in foreign currencies using counter rate or special rate (Cross Currency Transactions)
• Management of fi nancial liquidity using transaction feature Sweep -In, Sweep - Out and Range Balance
• Remittances to other Domestic Bank Account (SKN / RTGS)
• Remittances in foreign currency (Remittance)
• Payment of taxes (Tax Payment)
• Payment of bills (Bills Payment)
• Payment in bulk (Bulk Payment)
• Payment of employee salaries (Payroll)
• Billing mass (Multi Debit)
• Supply Chain service facilities (Financial Supply Chain)
• Opening of L / C or Bank Guarantee (Trade Finance Module).
RET-AD
RET-AD (Reuters Electronic Trading Automatic Dealing) is a dealing system for foreign exchange transactions. This system is an internet-based application and can be accessed by branches online and in real time.
RET-AD is placed at branches to allow them make foreign exchange transactions with independent usage of special rates, thereby allowing customers of CIMB Niaga to get the best exchange rate.
Business Highlights Key Financial Performance CIMB Niaga Overview & Profi le Shareholding Structure Vision & Core Values Operational Areas Milestones Event Highlights Awards
Board of Commissioners’ Profi les Directors’ Profi les
Financial Highlights Share and Bond Highlights Subsidiaries / Associate Entities Report of the President Commissioner Report of the President Director Strategy & Planning Overview
CONTENTS
01
100 Macro Economy & Banking Industry 14
16 18 21 22 24 26 28 30 32 38 44 46 66 74 82 92
Opening 98 Management
Discussion &
Analysis
Financial Performance Overview 150
194 200 214
Operations & Information Technology Human Resources & Talent Development Risk Management
Basel II Pillar 3:
Disclosure of Bank Capital, 106
116
120 124 128 134 138 144
Consumer Banking
CIMB Preferred, Private Banking and Wealth Management
SMME Banking Commercial Banking Corporate Banking
Treasury and Capital Market Transaction Banking
Sharia Banking
330
464
352 357 362
439
Audit Committee Report
Risk Monitoring Committee Report Nomination & Remuneration Committee Report
Sharia Corporate Governance Report
Good Corporate Governance
Corporate Data
446
509
Corporate Social Responsibility Consolidated
Financial Statements
BECOMING A LEADING
DIGITAL BANK 2013
A n n u a l R e p o r t
47.9T
Consumer Banking
posted credit of Rp47.9 trillion, up 9% YoY consisting of auto loans, mortgages, credit cards, multipurpose loans and personal loans.
Rp
31.1T
Rp
SMME (Small Medium & Micro)
Banking recorded an
increase of 13% in credit YoY to Rp31.1 trillion.
34.1T
Rp
In 2013,
Commercial Banking
posted a credit growth of 13% YoY to Rp34.1 trillion.2.2
NPL Ratio
% CIMB Niaga was able to maintain good asset quality with an NPL level of 2.2%.
Business Highlights
43.9T
Corporate Banking
posted credit of Rp43.9 trillion in 2013, 65% of which was for investment and 35%
for working capital.
Rp
Net Profi t
CIMB Niaga posted a Net Profi t of Rp4.3 trillion in 2013, up 1% YoY.
Rp
6.7T
Sharia Banking
recorded fi nancing of Rp 6.7 trillion in 2013 supported by fund raising totaling Rp 6.5 trillion.
Rp
163.7T
Customers’ Deposits
increased 8% YoY to Rp163.7 billion with a portion of low cost funds of 44.0% in 2013.
Rp
4.3T
The Company posted a net profi t of Rp4.3 trillion, up 1% from the previous year. Total Loans and Total Assets, respectively increased by 8% and 11% to Rp157.0 trillion and Rp218.9 trillion.
Key Financial Performance
Return on Equity increased 314bps to 17.74%
15.34
17.74
13 12 11 10 09
20.88 19.09
20.88 Return on Equity- Shareholders’ Fund (%)
Effi ciency Ratio (Operating Expenses to Operating Income) improved by 209bps to 73.79%
82.98
73.79
13 12 11 10 09
76.80 76.10
71.70 Operating Expenses to Operating Income - (%)
Earning per Share increased by Rp1.96 to Rp170.40
65.52
170.40
13 12 11 10 09
106.46 126.77
168.44 Earnings per Share (Rp)
Net Income*
(Rp trillion)
1.57
4.28
13 12 11 10 09
2.55 3.17
4.23
Net income increased 1% to Rp4.28 trillion
* Net Income attributable to equity holders to parent
Total Assets (Rp trillion)
107.10
218.87
143.65 166.80
197.41
Total Loans (Rp trillion)
83.39
156.98
104.89 125.70
145.40
Total Customers’ Deposits (Rp trillion)
86.25
163.74
117.83 131.81
151.02
14,342
Total Employees776,000
CIMB Clicks Users
969
NetworkOffi ces480
Total CDMs
Total
ATMs
2,956
Strengthening its position as the 5 th Largest Bank in Indonesia
529,000
Go Mobile Users* Source : Published Financial Statements by Bank Indonesia (Bank only) Total Assets*
(Rp trillion)
Total Loans*
(Rp trillion)
Total Customers’ Deposits*
(Rp trillion)
647 431 500
214 150 164
606 417 486
166 119 133
489 312
410
154 106 117
135 100 107
317 239 281
152 103 110
131 96 96
CIMB Niaga was established on 26 September 1955 under the name of PT Bank Niaga. In its early years of establishment, CIMB Niaga focused on building core values and professionalism in the banking industry. As a result, CIMB Niaga is widely known as a trusted provider of quality products and services. In 1987, CIMB Niaga became the fi rst local bank to offer banking services through automatic teller machines (ATM) in Indonesia. This achievement was widely recognized as the starting point for Indonesia’s entry into the world of modern banking. CIMB Niaga’s leadership and innovation in the application of the latest technology was increasingly recognized in 1991 by becoming the fi rst bank to provide online banking services to its customers.
CIMB Niaga was licensed as a commercial bank, foreign bank and bank that conducts sharia-based banking respectively on 11 November 1955, 22 November 1974 and 16 November 2004. On 29 November 1989, CIMB Niaga became a public company as its shares were listed on the Indonesia Stock Exchange. The move also triggered the development of the CIMB Niaga network throughout the country.
As a result of the Asian fi nancial crisis in 1998, the Government of the Republic of Indonesia through the National Bank Restructuring Agency (IBRA) for a short time became the majority shareholder of CIMB Niaga. In November 2002, Commerce Asset-Holding Berhad, now known as CIMB Group Holdings Berhad (CIMB Group), acquired a majority stake of CIMB Niaga from IBRA. In August 2007, all stock ownership was transferred to CIMB Group as part of an internal reorganization to consolidate the activities of all subsidiaries of CIMB Group with a universal banking platform.
In a separate transaction, Khazanah, which is the majority shareholder of CIMB GROUP, acquired a majority ownership of Lippo Bank on 30 September 2005. The entire stock ownership was transferred to CIMB Group on 28 October 2008, which was also
CIMB Niaga in Brief
As the controlling shareholder of CIMB Niaga (via CIMB Group) and Lippo Bank, Khazanah conducted a merger to comply with the single presence policy (SPP) set by Bank Indonesia. This merger was the fi rst in Indonesia in relation to the SPP policy.
The name of Bank Niaga was changed to CIMB Niaga in May 2008. After approval from Bank Indonesia regarding the proposed merger and receipt of permission from the Minister of Law and Human Rights Republic of Indonesia, Lippo Bank was offi cially merged into CIMB Niaga on 1 November 2008. This was followed by the introduction CIMB Niaga’s new logo to the public.
This merger was a leap in the banking sector of Southeast Asia, and has made CIMB Niaga the 5th largest bank in Indonesia in terms of assets, loans, customer funds and the number of branches. As of 31 December 2013, market capitalization of PT Bank CIMB Niaga Tbk was recorded at Rp23 trillion.
CIMB Niaga offers conventional products and services and Sharia banking products and services with combined strength in the areas of Consumer Banking, Small Medium and Micro Enterprises, Commercial and Corporate Banking, Treasury and payment services, supported by a network of branches spread across Indonesia as well as branchless banking. CIMB Niaga has continued to develop the micro-fi nance business under Mikro Laju with 350 outlets to serve all of its customers.
CIMB Niaga has two subsidiaries engaged in auto fi nancing, namely PT CIMB Niaga Auto Finance (CNAF) and PT KITA Finance (KITAF) with respective share ownership of 99.9% and 51.0% on 31 December 2013.
In anticipation of future growth opportunities, the development of branchless banking and electronic distribution channels has become one of CIMB Niaga strategies, especially for the Consumer
services complement and enrich the Bank’s existing services and electronic distribution, namely Go Mobile banking, internet banking, CIMB Clicks, ATMs, self-service terminal (SST), cash deposit machine (CDM), as well as 14041 Phone Banking service.
With regional ATM capabilities, CIMB Niaga is also connected to the Prima ATM network, ATM Bersama,Cirrus,VISA, and MEPS, giving customers the flexibility and convenience in ATM transactions, both in Indonesia and in the region, especially in Singapore, Malaysia, and Thailand.
In 2013, CIMB Niaga re-sharpened its focus on the development of branchless banking to establish a strategy to become a leading bank in the digital consumer banking services. For that reason CIMB Niaga made a breakthrough with the launch of the Digital Lounge and Rekening Ponsel. Digital Lounge is a new concept in modern banking that provides comfort and allows customers to communicate directly with staff of CIMB Niaga via video conference. Meanwhile, Rekening Ponsel was launched to address the diversity of its target markets by allowing people who are not its customers to make banking transactions simply by registering
their mobile phone number at a nearby CIMB Niaga branch. This is the first product in Indonesia and has received a warm response from the public. This product has received an award from MURI as a mobile wallet product in Asia with the ability to transfer to all phone numbers within one country.
As of 31 December 2013, CIMB Niaga has a total network of 969 offices and 2,956 ATMs, 480 CDMs and 203 SSTs spread across 28 provinces and 109 cities and districts across Indonesia, including those of its Conventional Banking, Sharia Banking and Micro Laju outlets all with the support of its 14,342 employees.
Name
PT Bank CIMB Niaga Tbk Head Offi ce
Graha CIMB Niaga, Jl. Jend Sudirman Kav. 58, Jakarta 12190, Indonesia
Tel. (62-21) 250 5252, 250 5353 Fax. (62-21) 250 5205
Website www.cimbniaga.com Line of Business
Commercial Banks, Foreign Exchange Bank and Sharia Bank.
Establishment 26 September 1955 Ownership
• CIMB Group Sdn Bhd 96.92%
• PT Commerce Kapital 1.02% (Subsidiary of CIMB Group)
• Public 2.06%
Legal Basis of Incorporation
• The Deed Establishment No. 90 of Raden Meester Soewandi, Notary Public in Jakarta on 26 September 1955 and amended by Deed No. 9 dated 4 November 1955.
• Decree of the Minister of Justice of the Republic of Indonesia (now Minister of Justice and Human Rights) No. J.A5/110/15 dated 1 December 1955.
• State Gazette No. 71 dated 4 September 1956.
• Additional State Gazette No. 729/1956.
Subsidiaries
• PT CIMB Niaga Auto Finance 99.9%
• PT KITA Finance 51.0%
Stock Exchange
Shares and bonds of PT Bank CIMB Niaga Tbk are listed and traded on the Indonesia Stock Exchange (IDX).
Share Code BNGA ISIN Code ID1000098007
Shares Listing Date 29 November 1989 Bonds Listing Date
• Subordinated Bonds I CIMB Niaga Year 2010 : 8 July 2010.
• Subordinated Bonds II CIMB Niaga Year 2010 : 23 December 2010.
• Senior Bonds I CIMB Niaga Year 2011 : 23 December 2011.
• Continuous Bonds I CIMB Niaga Phase I Year 2012 : 30 October 2012.
• Continuous Bonds I CIMB Niaga Phase II Year 2013 : 20 November 2013
Company and Bonds Rating
• Pefi ndo
o Corporate Rating (national) : idAAA o Bonds Rating : idAAA
• Fitch
o Corporate Rating (national) : AAA(idn) o Corporate Rating (international) : BBB o Bonds Rating : AAA(idn)
o Subordinated Bonds Rating : AA(idn)
• Standard & Poor’s o Corporate Rating : BB+
• Moody’s
o Corporate Rating : Baa3 SWIFT Code
BNIAIDJA Contact Center:
Email: [email protected] Facebook: CIMB Indonesia
Twitter: @CIMBIndonesia Phone Banking: 14041
Preferred Phone Banking: 500 800
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CIMB NIAGA - Shareholding Structure
* Mitsubishi UFJ Financial Group, Inc of Japan (Only direct stake held via BTMU)
** Including PT Commerce Kapital shares of 1.02%, owned 100% by CIMB Group
*** In 23 September 2013 CIMB Niaga signed the Conditional Share Purchase Agreement between Marubeni Corporation, PT Marubeni Indonesia and PT Niaga Manajemen Citra through share purchase transaction of KITA Finance amounted 48.9%, therefore CIMB Niaga shareholding percentage increased to 99.9%. This share purchase is effective as of 26 February 2014
Khazanah
Nasional EPF KWAP MUFG Public
Public
30.1% 15.9% 2.6% 5.0%* 46.4%
99.9%
CIMB Group Holdings Berhad
96.9%
CIMB Group Sdn Bhd 3.1%**
99.9% 51.0%*** 3.8%
Vision
“To be the most trusted Indonesian bank
that is part of South East Asia’s leading Universal Bank by understanding our customers’ needs, providing the right comprehensive fi nancial solutions and building lifetime relationships.”
Explanation:
To be the most trusted bank in Indonesia,
we identifi ed three main aspects, which focused on customer satisfaction of our services:
1. Understanding customer needs;
2. Providing the right comprehensive fi nancial solutions;
and
Core Values
Explanation:
CIMB Niaga always puts our customers’ satisfaction first, through excellent services from employees who have high integrity and passion for excellence in their work.
The Main Behavior of Core Values
“Integrity is Everything”
• Speak and act with honesty and sincerity.
• Make decisions reliably based on professionalism.
“Always Put Customers First”
• Assist and serve to fulfill and anticipate the needs of stakeholders.
• Create added value and solutions that exceed customer expectations.
• Empower human resources and support all potential for excellence.
“Passion for Excellence”
• Provide the best quality products, services, and work processes.
• Implement open leadership, delegating authority and requiring responsibility for any decision made.
• Recognize the importance of cooperation to attain success, to build trust and mutual respect, and to struggle together within a competitive environment.
Always Put Customers First Passion for Excellence
Integrity is Everything
North Sumatera
Riau Batam
West Sumatera
Palembang
Jambi
Lampung
Jakarta Banten
West Java
Yogyakarta East Java Bali
South Sulawe East Kalimantan
South Kalimantan West Kalimantan
Central Java
Sumatera : 161 63 Conventional Offi ce 8 Sharia Offi ce
90 Micro Finance Offi ce
DKI Jakarta : 218 185 Conventional Offi ce 7 Sharia Offi ce
26 Micro Finance Offi ce
West Java & Banten : 175 118 Conventional Offi ce 5 Sharia Offi ce
52 Micro Finance Offi ce
Central Java : 144 79 Conventional Offi ce 2 Sharia Offi ce
63 Micro Finance Offi ce
DI Yogyakarta : 24 19 Conventional Offi ce 1 Sharia Offi ce 4 Micro Finance Offi ce
East Java : 133 86 Conventional Offi ce 2 Sharia Offi ce
45 Micro Finance Offi ce
Bali & Nusa Tenggara : 32 16 Conventional Offi ce 2 Sharia Offi ce
14 Micro Finance Offi ce
Kalimantan : 45 22 Conventional Offi ce 2 Sharia Offi ce
21 Micro Finance Offi ce
Sulawesi : 29
14 Conventional Offi ce 1 Sharia Offi ce
14 Micro Finance Offi ce
Ambon : 2
2 Conventional Offi ce
Papua : 6
6 Conventional Offi ce
Operational Area
ulawesi
North Sulawesi
Maluku
Papua
Phone Banking
14041
Preferred Phone Banking
500 800
ATM
2,956
Cash Deposit Machine
480
Milestones
Establishment of PT Bank Niaga
The fi rst bank that launched ATM services
CIMB Group (formerly Commerce Asset-Holding Berhad) took over 50.99%
shares in PT Bank Niaga Tbk from IBRA
1955
Rights Issue Rp1.3 trillion Issued Subordinated Bonds USD100 million
1973 1983
Merged with:
• Bank Agung - 1973
• Bank Tabungan Bandung - 1978
• Bank Amerta - 1983
Initial Public Offering
1989
Launch of Sharia Banking
2004
Issued Subordinated Bonds USD200 million
2006 2005
2002
1987
Strengthened its position as the fi fth largest bank in Indonesia Completed systems and operations integration
Established Mikro Laju as the brand
2008
Recorded Net Income of Rp2.5 trillion
Issued subordinated debt of Rp2.98 trillion and Rights Issue of Rp1.5 trillion Obtained AAA(idn) Rating from Fitch Rating Launched BizChannel and CIMB Clicks
Recorded Net Income of Rp3.2 trillion Announced interim dividend distribution of Rp200 billion Launched Sharia Gold Pawn business Issued Senior Bonds of Rp1.5 trillion Subordinated debt Payment of USD200 billion
2010
2011
Recorded Net Incomeof Rp4.2 trillion Launched Go Mobile, a new mobile banking platform
Issued Continuous Bond I totalling Rp8 trillion, with Phase I of Rp2 trillion Launched Phone Banking service 14041 and Preferred Phone Banking 500800 with various excellent features
2012
Recorded Net Income of Rp4.3 trillion Launched Digital Lounge
Launched Rekening Ponsel
Launched Poin Xtra Issued Continuous Bond I Phase II of Rp1.45 trillion Launching of Net Banking - online opening account
2013
Changed name to PT Bank CIMB Niaga Tbk Effective merger of CIMB Niaga and LippoBank
2009
J a n u a r y The Ayo Menabung dan Berbagi Program of CIMB Niaga donated Rp621 million to 23 early childhood institutions in various regions in Indonesia
17
Fe b r u a r y Press Conference and Analyst Meeting to disclose CIMB Niaga Performance In 2012
14
M a rc h Offi cial Launching of Rekening Ponsel
27
Organized a golf tournament named CIMB Niaga Indonesian Masters at Royale Jakarta Golf Club
CIMB Niaga won Second place in the tournament of Bankers Performance Competition in Indonesia Banking Expo 2013
M ay
25
M a rc h The 2013 CIMB Niaga Annual General Meeting of Shareholders held at Icon Branch, Pondok Indah , Jakarta
28
A p r i l Signing of Agreement with PT Pos Indonesia for installment loans for pensioners
04
M ay Agreement between PT
CIMB Niaga and Hutchison 3 Indonesia to facilitate CIMB @ Work - Car Ownership Program
02
Event Highlights
J u l y The launch of core banking system project, CIMB Niaga 1Platform
26
J u l y Held Extraordinary General Meeting of Shareholders on 26 July 2013, approving appointment Vera Handajani as Director of CIMB Niaga
26
The 2013 Annual Public Expose and Public Offering of CIMB Niaga Sustainable Bond I Phase II of
03
2013CIMB Niaga retained the award in the Indonesia Green Awards 2013 in the category “Biodiversity Conservers“
J u n e
S e p te m b e r The offi cial launch of Poin Xtra, point rewards with a wide range of customer benefi ts
16
S e p te m b e r CIMB Niaga won 8 awards at the Ajang Anugrah Perbankan Indonesia 2013 event in the category of banks with core capital of Rp5 trillion - Rp30 trillion
26
O c to b e r Organized the Economic Outlook Conference 2014 with the theme
“ Indonesia: Sustaining Growth Story Meets Challenges “
10
N ove m b e rParticipated in the launch of the Syariah Economics School (of thought) (GRES), with declaration by the President of the Republic of Indonesia.
11
“Service to Care Award 2013”
Indonesia Service to Care Champion 2013 Credit Card category by Marketers Magazine
& Mark Plus Insight Magazine
“The Asset AAA 2013”
Best Service Provider in Cash Management (Indonesian) by The Asset
“The Asian Banker Achievement Awards 2013”
International Technology Implementation - The Outstanding Technology Implementation Award from The Asian Banker
“Banking Effi ciency Award 2013”
The category of foreign exchange Commercial Bank by Bisnis Indonesia
“Corporate Image Award 2013”
National Bank category; Asset Medium - The Best in Building and Managing Corporate Image by Bloomberg Business Week and Frontier Consulting Group
“Banking Service Excellence Award 2013”
Best ATM (Ranked 1st ) Sharia Unit by Infobank Magazine & Marketing Research Indonesia (MRI)
“Property & Bank Award 2013”
Mortgage provider with Variable Financing Product by Properti & Bank Magazine
“Indonesia Green Award 2013”
Category Conservers of Biodiversity by La Tofi School of CSR, Ministry of Forestry Republic of Indonesia and the Ministry of Industry of the Republic of Indonesia
2013 Awards
“Infobank Award 2013”
Platinum Trophy 2013 - Very Good Financial Performance, the Category of BUKU 3 by Infobank Magazine
“The Asian Banking & Finance Wholesale Banking Awards 2013”
Indonesian Domestic Cash Management Bank of the Year and Indonesia Domestic Trade Finance Bank of the Year by the Asian Banking & Finance Magazine
“Anugerah Perbankan Indonesia 2013”
For the Category of Bank with core capital of Rp5 Trillion - Rp30 Trillion, Ranked first for Core Capital by Grup Ideku & Perbanas Institute
“Annual Report Award 2012”
Ranked first in the Category of Private Financial Listed companies held by the National Committee on Governance (NCG), BEI , BI , FSA , Director General of Taxes , Ministry of Enterprise and the Indonesian Institute of Accountants
“The 5th IICD: Corporate Governance Conference & Award”
The Best Responsibility of the Boards 2013 by The Indonesian Institute for Corporate Directorship
“Digital Brand of the Year 2013”
Category Sharia Saving by Infobank Magazine
“Corporate Governance Perception Index (CGPI) Award 2012”
The Most Trusted Company by The Indonesian Institute for Corporate Governance & SWA Magazine
“Best Sustainability Reporting Awards 2012”
1st Runner Up for Best Sustainability Reporting 2012 - Financial Services Category by The National Center for Sustainability Reporting (NCSR) and the Indonesian - Netherlands Association
In any situation, a well-managed company with the best human resources will survive and respond well to generate sustainable performance for its stakeholders. On the basis of these ideas, CIMB Niaga always carries out its obligations as a good corporate citizen, and strives to provide the best products and services to its customers while building a positive image by meeting all its obligations as a public company.
One of the achievements was through the exposure from the Annual Report, in which the Company has continued to present transparency in its reporting that covers all banking business performance including a report on its social activities and future plans.
The Company’s serious effort was evidenced by a series of achievements in the Annual Report Award event from 2002 to 2012. However, most encouraging since its participation in the event is that CIMB Niaga has always ranked fi rst in the category of Private Financial Listed.
These various achievements have sparked passion and determination on the part of the Company to maintain such achievements and even become the best in the region. For the Company, being the best is a DNA inherent in every line of its businesses and has become an inherent part of the culture embedded within its human resources.
Annual Report Award
A Passion to always be the Best
2012 2011 2010
Rank 1 Rank 2 Rank 1
Private Financial Listed Category
Private Financial Listed Category
Private Financial Listed Category
2009 2005
2008 2004
2007 2003
2006 2002
Rank 2
Private Financial Listed Category
Rank 1
Private Financial Listed Category
Rank 2
Private Financial Listed Category
Rank 1
Private Financial Listed Category
Rank 1
Private Financial Listed Category
Rank 1
Private Financial Listed Category
Rank 1
Private Financial Listed Category
Rank 3
Financial Category
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Dato’ Sri Nazir Razak
President Commissioner
Malaysian citizen, 47 years old. President Commissioner of CIMB Niaga since 26 January 2012. He is the Group Managing Director/Chief Executive of CIMB Group since 7 November 2006, and Deputy Chairman of CIMB Investment Bank, CIMB Bank and CIMB Islamic.
He is a member of the Investment Panel and Chairman of the Investment Panel Risk Committee of Employees Provident Fund in Malaysia. He holds directorships in various CIMB Group companies, Malaysian Electronic Payment System (1997) Sdn Bhd and is an Executive Committee member of the Malaysia International Islamic Financial Centre. He is the Chairman of the World Islamic Economic Forum (WIEF) Young Leaders Network. He is also a trustee of both the Rahah Foundation and the Pride Foundation.
He graduated from the University of Bristol with a Bachelor of Science (Hons) degree and obtained a Master of Philosophy (MPhil) from the University of Cambridge.
Indonesian citizen, 58 years old. Has served as Vice President Commissioner since 26 January 2012 and is also a member of the Risk Monitoring Committee. Previously, he had served as Commissioner of CIMB Niaga since April 2010.
Currently, he also has served as Non-Executive Independent Director of CIMB Group Holdings Berhad, Malaysia since January 2010, and as Independent Commissioner of PT Surya Citra Media Tbk since May 2012.
His past key positions include President Commissioner of PT Polyprima Karyareksa (June 2004-2010), President Director/
CEO of PT London Sumatra Indonesia Tbk (June 2003 - May 2007), President Director of PT (Persero) Danareksa (1995-2001), Director of PT Bahana Pembinaan Usaha Indonesia (1994-1995), and Finance Director of PT Bank Niaga Tbk (1991-1994).
In the Indonesian Government, he served as Chairman of the Assistance Team to the Minister of Finance Restructuring the Financial Sector - Ministry of Finance from October 2001 to October 2002; Chairman of the Indonesian Bank Restructuring Agency (IBRA) from June 1998 to January 2000; and Director General of Financial Institutions of the Ministry of Finance during the period of April to June 1998.
Glenn M.S. Yusuf
Vice President Commissioner
Roy Edu Tirtadji
Independent Commissioner
Sri Hartina Urip Simeon
Independent Commissioner
Indonesian citizen, 66 years old. Appointed as Independent Commissioner of CIMB Niaga in January 2012. He currently also serves as Chairman of the Audit Committee since March 2013.
Previously, he also served as Vice President Commissioner of CIMB Niaga. Since July 2013, he served as Commissioner of PT Jababeka Tbk.
Starting his career at Citibank NA, Jakarta since 1971-1983 with his last position as Vice President and Chief of Staff in the areas of Financial Control and Human Resources. Joined Bank Perniagaan Indonesia in 1983 as a Director. Served as President Director of PT Bank Umum Asia in 1988, then in 1989 served as Vice President Director of PT Bank Lippo Tbk, which is a result of the merger of PT Bank Umum Asia to PT Bank Perniagaan Indonesia. Since the year 1998 - 2008, he served as a member of the Board of Commissioners of PT Bank Lippo Tbk.
Studied at the University of Indonesia, majoring in Civil Engineering, he is currently active in social organizations, community service and sports, and served as Advisory Council on the Indonesian Chamber of Commerce and Industry (Kadin).
Indonesian citizen, 76 years old. Independent Commissioner of CIMB Niaga since September 2007, also a member of the Audit Committee.
She also serves as Senior Advisor of PT Mitra Bhadra Consulting and Audit Committee member in PT Multi Bintang Indonesia Tbk.
She previously served as President Director (CEO) of PT Unilever Indonesia Tbk. She also served as a member of the National Ombudsman Commission (1999-2000), member of the Partnership for Governance Reform (2000-2002), as well as Independent Commissioner of PT Sepatu Bata Tbk 1999-2010, Independent Commissioner of PT Dynaplast Tbk (1999-2007), and Independent Commissioner of PT Multi Bintang Indonesia Tbk (1999-2007).
She earned a Bachelor degree in Chemical Engineering from the University of Gadjah Mada, Yogyakarta 1960, and was enrolled in the Senior Executive Program at Stanford University, USA, 1988.
Zulkifl i M. Ali
Independent Commissioner
Pri Notowidigdo
Independent Commissioner
Malaysian citizen, 63 years old. Appointed as Independent Commissioner of CIMB Niaga in July 2008, and serves as Chairman of the Risk Monitoring Committee and member of the Nomination and Remuneration Committee.
Currently he also serves as Independent Non - Executive Director at Turbo - Mech Berhad, Malaysia. Previously he served as Independent Commissioner of PT Bank Lippo Tbk from 2005 to 2008. Director of Corporate Planning / Corporate Structure in the Public Bank Group Malaysia since 1993-2005, Investment Advisor Enterprise Malaysia - Canada 1990-1993, Group Administration and Controller at Austral Enterprise Berhad, 1988-1990, Corporate Planning and Development Manager in Island & Peninsular Berhad 1985 -1988 and Lecturer and Deputy Dean at the University of Science Malaysia, Penang from 1976 to 1983.
He holds an MBA earned from Dalhousie University, Nova Scotia, Canada, and an MSc from the University of British Columbia, Vancouver, Canada.
Indonesian citizen, 67 years old. Appointed as Independent Commissioner of the Company in March 2013. He has served as Chairman of the Nomination and Remuneration Committee from 26 November 2013.
He currently serves as Managing Partner - Amrop, Advisor - Cordys, Software Service Platform - Jakarta, Alpha Advisor at Insight, Business Intelligence, Jakarta, Advisor at the Indonesian Institute for Management Development, Jakarta. In addition, he served as a Member of the Nomination and Remuneration in Bank Muamalat, Jakarta, Human Resources Development Advisor in the IMF, Jakarta, and Business Development Advisor at The Zuellig Group Financial Services, Member of Nomination and Remuneration in Semen Gresik Group.
He earned a Bachelor degree in Political Science and Psychology from Carleton University, Ottawa, Canada in 1975.
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Joseph Dominic Silva
Commissioner
Malaysian citizen, 49 years old. Has served as Commissioner of CIMB Niaga since 18 August 2009, and member of the Risk Monitoring Committee.
He currently serves as a Director of CIMB Bank Berhad in Malaysia and as an Executive Director in Khazanah Nasional Berhad. Previously he was Head of Commercial Asia ABN Amro Bank NV (1996-2008), Head of Non - Japanese Corporate Finance at Mitsubishi UFG (1994-1995), Fixed Income Origination at KAF Seagroatt Malaysia Campbell (1992-1993), and Corporate Banking at Malayan Banking Berhad (1990-1992).
He earned a Degree in Banking and Finance from the University of Wales.
Malaysian citizen, 50 years old. Commissioner of CIMB Niaga since August 2010, and also a member of the Nomination and Remuneration Committee since October 2010.
She also serves as Head of Group Corporate Resources, since 2004 and Chairman of Semerak Services Sdn Bhd since 2005. She is currently the Group Chief People Offi cer, CIMB Group.
She earned a Bachelor degree in Law from the University of Wolverhampton, England.
Hamidah Naziadin
Commissioner
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Indonesian citizen, 56 years old, President Director of CIMB Niaga since 1 November 2008. Previously he served as President Director of PT Telekomunikasi Indonesia Tbk, Vice-President Director of PT Bank Negara Indonesia Tbk and President Director of PT Bank Danamon Tbk.
Starting his banking career at Bank of America in 1980, followed in PT Bank Niaga Tbk from 1987 to 1999 with his last position as Vice President. In 1999, he became an expert on the staff of the National Bank Restructuring Agency (IBRA) to handle risk management Investment and Asset Management Asset Management Asset Management Investment and Credit Risk. In 2000, he was appointed as Vice Chairman of IBRA.
He earned a Bachelor degree in Development Studies from the Faculty of Economics, University of Indonesia in 1981, and a Master degree in International Economics and an MBA International Business from the University of Hawaii, USA. He also participated in various executive educations at the Harvard School of Business, Wharton School of Business, and INSEAD.
Indonesian citizen, 55 years old. Vice President Director of CIMB Niaga since August 2009 and has served as Director of the Small Medium and Micro Enterprise since 1 August 2013. Previously he served as Director of Retail Banking (2008-2009).
He was formerly Vice President Director of PT Bank Niaga Tbk (2007-2008), and Director of PT Bank Niaga Tbk since 2000, and held several senior positions include Director of Business Banking, Commercial Banking Director, member of the Management Team PT Bank Niaga Tbk, Special Asset Management Group Head, Corporate Banking Group Head and Merchant Banking Group Head.
He holds certifi cation in 2006 BSMR.
He earned a Bachelor degree in Economics from the University Jayabaya, Jakarta. He was enrolled in executive education programs at Harvard Business School, Global Leadership Development Programme by the International Centre for Leadership in Finance and the International Institute for Management Development (IMD) in Lausanne, Switzerland.
Arwin Rasyid
President Director
Daniel James Rompas
Vice President Director
Lo Nyen Khing
Vice President Director
Malaysian citizen, 50 years old. Vice President Director of CIMB Niaga since 15 January 2013, serves as the Director of Corporate Banking.
Previously, he served as Chief Risk Offi cer, North Asia OCBC Bank (China) Limited, and was once the President Director of PT Bank OCBC Indonesia at the end of 2005-2010. He was also a Country Risk Manager at Citigroup Indonesia.
Holding a Master of Business Administration from Western Illinois University, he also held a number of key positions in Citibank Malaysia Berhad during 1996-2004. In 2008, He attended the Advance Management Program at the University of Oxford, UK.
Indonesian citizen, 53 years old. Commercial Banking Director of CIMB Niaga since 1 November 2008. Since January 2012 he assumed the responsibility for Sharia Banking.
Previously, he served as the Head of Business Banking, Card Products Group Head, Jakarta I Sales & Services, Area Manager, and held the support functions at headquarters as Group Head of Financial Accounting and Asset Risk Support Group Head. He has also served as President Commissioner of PT CIMB Niaga Auto Finance, PT Niaga Sekuritas and Chairman of the Supervisory Board of the Pension Fund of PT Bank Niaga Tbk.
He earned a Bachelor degree in Accounting from Padjadjaran University, Bandung.
Handoyo Soebali
Director
Lydia Wulan Tumbelaka
Director
Mohamed Fadzil Sulaiman
Director
Indonesian citizen, 49 year olds. Director of Compliance, Corporate Affairs and Legal CIMB Niaga since December 2008.
Her banking career began in 1989 as a legal offi cer at Bank Central Asia, continued in PT Bank Niaga Tbk to occupy various positions in the Consumer Marketing Offi cer, Legal Division Head, Corporate Legal Group Head, and Head of Corporate Affairs. She served as a Partner at the law fi rm Tumbelaka Bahar & Partners, as well as a Legal Advisor in Bank Niaga for Special Asset Management Group 1998 to 2000.
She holds a Bachelor’s degree in Law from the University of Indonesia.
Malaysian citizen, 55 years old. Director of Treasury & Capital Market of CIMB Niaga since August 2009.
He was formerly Head of Treasury and Capital Markets from 2007 to 2009. Previously, he was Senior Vice President Cross Market Trading, Head of Forex, and Head of Corporate Sales, Treasury Division at CIMB. He joined Bank Bumiputra Berhad in 1985 and has held various positions in the Treasury Division. He also served as A.G.M. Treasury at CIMB London and Singapore branches.
He earned a Master of Management and Finance from Kentucky State University, USA, and a Bachelor of Science in Finance from Indiana State University, United States.
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Wan Razly Abdullah
Director
Rita Mas’Oen
Director
Malaysian citizen, 42 years old. Director of Strategy & Finance CIMB Niaga since August 2009. He also serves as President Commissioner of PT Kencana Internusa Artha Finance, a subsidiary of CIMB Niaga engaged in auto loans.
Previously he served as Director of CIMB Investment Bank Berhad, Kuala Lumpur (2004-2009), Director of Synergy Drive Berhad, Kuala Lumpur (2006-2007), and Head of Strategic Business Development at Maybank Investment Bank, Kuala Lumpur (2002-2004 ). He has also worked as an auditor at the Northern Trust Company, London (1999-2002), and Auditor at Pricewaterhouse Coopers, London (1995-1998).
He graduated from the Institute of Chartered Accountants in England and Wales, and earned a Degree in Law and Accounting from the University of Manchester, UK.
Indonesian citizen, 52 years old. Director of Operations & Information Technology CIMB Niaga since March 2012. Previously she served as Director of Human Resources since August 2009 CIMB Niaga.
Prior to joining CIMB Niaga she was Director of Operations &
Information Technology at PT Bank Internasional Indonesia Tbk, Chief Operations Offi cer and member of the Board of Commissioners of PT Wahana Ottomitra Multiartha Tbk (2005-2009). She also served as Director of the Indonesian Central Securities Depository in 1998.
Her career in banking began when she joined Citigroup Indonesia in 1985 where she held several positions including marketing, sales, account management, custody business manager, cash and trade product development & management, quality, operations, information technology, and network. The last position in Citigroup Indonesia was as Director, Senior Country Operations Offi cer (Operations & Technology).
She holds a Bachelor of Science degree in Computer Science from Arizona State University, Phoenix, Arizona, United States.
Samir Gupta
Director
Megawati Sutanto
Director
Citizen of Singapore, 51 years old. CIMB Niaga’s Consumer Banking Director since March 2012.
Previously he served as President Director at Barclays Bank, Indonesia during February 2009 - September 2010. Previously, he also served as Regional Retail Bank Head (Emerging Market), Dubai.
He has also held various positions at Citibank NA India, Singapore, Thailand, Dubai and Turkey.
He holds a Bachelor degree in Mechanical Engineering earned from the Indian Institute of Technology, Delhi, India in 1985 and earned a Master of Business Administration from the University of Bombay, India in 1988.
Indonesian citizen, 51 years. CIMB Niaga Credit Director since 15 December 2010.
Previously, she served as Head of Corporate Banking of PT Bank Danamon Tbk (2007-2010), and she was also the Vice President Director, PT Bank DBS Indonesia (2003-2006). Since 1989 she held several key positions in several national and international banks such as Hong Kong Bank, PT Bank Dagang Nasional Indonesia, and Standard Chartered Bank.
She holds a Bachelor degree in Finance from the University of Southern California, United States in 1985 and earned a a Master of Business Administration from Pepperdine University, USA in 1988.
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Harjanto Tanuwidjaja
Director
Indonesian citizen, 49 years old. Director of Human Resources CIMB Niaga since March 2012. Previously, he served as Director - Head of Agency PT Sun Life Financial Indonesia since 2007.
In addition, he has held several important positions in PT Asuransi Allianz Life Indonesia as Chief Agency Offi cer (2005-2007), Managing Director of Employee Benefi ts (2003-2005) and Director of Human Resources (2001-2003). Previously, he served as Director of Human Resources PT Duta Pertiwi Tbk in 2000, and was also the Country Human Resources Manager at Chase Manhattan Bank (1994-1999).
He was once the Director of Human Resources American Express Bank (1992-1994), Compensation and Benefi ts Manager at Citibank NA, Jakarta (1990-1992).
He holds a Bachelor degree in Industrial Management Engineering from the School of Industrial Management in 1989 and earned a Master of Business Administration from Monash University in Melbourne, Australia in 1999.
Indonesian citizen, 42 years old. Risk Management Director since 26 November 2013.
Previously she held various positions in Hong Kong, Singapore and Indonesia. In 2012-2013 she served as Head of Operational Risk Greater China and Asia Pacifi c Markets at Royal Bank of Scotland, Hong Kong. In 2010-2012 she served as Head of Financial Institutions Credit & Trading Credit Risk Management, Greater China & South Korea are also in the Royal Bank of Scotland, Hong Kong.
She earned a Bachelor degree in Economics and Management from Trisakti University, Jakarta in 1994 and an MBA from Kellogg Business - Hong Kong University of Science and Technology, Hong Kong / USA in 2013.
Vera Handajani
Director
